Sirkin Law Trust Estate Probate Litigation Attorney

Administration of Special Needs Trusts in Woodland Hills

Do you need advice about administration of a Special Needs Trust in Woodland Hills?  Our lawyers have over 26 years of experience advising trustees about special needs trust administration. Mina N. Sirkin advises Woodland Hills parents and grandparents about the details in preparing a special needs trust in the San Fernando Valley and Los Angeles areas.

Top 10 Tips in Administering Special Needs Trusts:

1.  Set up a Trust file, and read it several times.
2.  Create a trust inventory.
3.  Carry adequate insurance.
4.  Contact a financial advisor who is familiar with the Prudent Investor Rule.
5.  Have an accountant do your accounting.  Have him/her set up a quarterly upload of all of  the trusts financial statements so you do not have to rush at the end of the year.
6.  Communicate with the beneficiary, if possible.  If beneficiary cannot communicate, talk to  caregivers, conservators and other family members to get updates of on how the  beneficiary is doing at least once every two months. 

Attorney Mina N. Sirkin has helped thousands of Woodland Hills residents in administering trusts.  Ms. Sirkin is a California Board Certified as a Specialist attorney in Trust law by the State Bar of California, and regularly writes about special needs trusts administration and formation.  Contact: 818.340.4479 and [email protected]

Trust Administration and Litigation Lawyer, Los Angeles California

Trust Administration and Litigation Lawyer, Mina Sirkin advises clients regarding the most important aspects of estate planning and trust administration in preventing litigation in Los Angeles, California.

Some of the most important aspects of trust administration involve preventative actions by the trustee or successor trustee of a trust which reduce risks of litigation.   Many beneficiaries believe that their needs are not being addressed by the successor trustee.   Some of those needs are easily identified by the trustee by simply conducting a survey of the beneficiaries at the start of administration.

For example, a trustee who is in the process of trust administration, may want to ask the beneficiaries the following:

1.  Do you want the trustee to sell the trust property?

2.  What do you think is a reasonable price for the sale of the trust assets?

3.  What is your expectation of the time it takes to distribute the trust's assets?

4.   What is your expectation of the cost of administering the trust?

By conducting a survey, the trustee can gauge his or her actions in line with beneficiaries' expectations and avoid possible conflicts by early mediation or a vote of beneficiaries on issues which may result in conflict.

Mina N. Sirkin is a Trust Administration and Litigation Lawyer in Los Angeles, California.  She is Certified as a Specialist Lawyer in Trust Law, Probate and Estate Planning in Los Angeles, California. 818-340-4479.  [email protected]. http://www.SirkinLaw.com

 

 

 

 

 

 

Los Angeles Trust Administration

Trust Administration and Settlement:

While many firms prepare living trusts, there are few which administer and settle living trusts. Trust administration after death is as important, if not more important, than the creation of the trust. Many small details can derail the proper distribution of the trust assets and we are equipped to handle the administration as well as the creation of trusts with ease and expertise. We are here for you during life and maintain a life-long relationship with you and your family. Our Wealth Protection Attorneys can assist your heirs in continuous protection of your hard-earned wealth. Our Los Angeles Trust Administration attorneys have represented four generations of clients in wealth planning and can provide help during a very difficult time.

Mina N. Sirkin is a Board Certified Specialist in Estate Planning, Probate and Trust Law by the Board of Legal Specialization of the State Bar of California.   Ms. Sirkin practices in Los Angeles County, California.

[email protected].  http://www.SirkinLaw.com.   Copyright 2008 Mina Sirkin.